New York, Nov. 15.
An early decline was witnessed in the cotton market, owing to the uncertainty of ihe European political situation and the easiness of the Stock Market, which caused moderate liquidcion and discouraged new buy-sides of the market, but selling predominated, while hedging was light and was: mostly confined to late months. Later, trading chief consisted of December liquidation and exchanging. Closing quotations were barely steady, ranging from 3 to 10 points down from yesterday's final levels.
The rubber market early moved lower in sympathy with London advices, on the increase in quota to 50 per cent., the weakness of sterling and desier selling and liquidation. Subsequently, prices ra.lied on a good demand, chiefly from factories, which ws o.ributed to the optimistic outlook at Akron where it is expected that the world consumption will total 80,000 to 85,000 tons per month for the first quarter of 1939. At the close, losses from 15 to 17 points were recorded.
Higher levels were witnessed in the Chicago Wheat Pit today, influenced by the firmness of overseas and Winnipeg. advices and reports of unfavourable weather in Argentine. The fixing of an Argentine minimum price is believed to be indicative of an official entry of another country in the subsidy field. At the final bell, gains of % of a cent, were. registered.—Reuter.
New York Cotton New York Rubber Dee, 8.59-58—08 Dec. 16.57-59—15
Jan. 8.55-55—03 B/A Mar, 848-48—08 Jan. 16.57 N 16
May 829-29—07 Mar. 16.57-60 July 815-15—08 May 16.62-62—15 Oct. 788-88—10
New York Sugar No, 4
Text read from the printed page and cleaned; old type leaves the occasional error.